The world of eCommerce has grown from strength to strength with every passing year. And every passing year has brought with it some promising new eCommerce trends. Now some may argue and complain about how profits are marginal, and cart abandonment is on the rise, but those are just minor spots of bother in an otherwise flourishing industry.
However, this kind of skyrocket growth translates into more eCommerce stores and merchants wanting to become part of the game. This is why staying on your toes and adapting to the latest eCommerce trends has never been so imperative.
From incorporating new tech to your online store to getting a grip over the ever-changing consumer behaviors and preferences, you need to equip your eCommerce brand to make 2021 your year. To help you absolutely cream the competition and win big this year, we’ve compiled a list of emerging eCommerce trends that you should follow in 2021.
eCommerce Trend 1: Unconventional Domain Names
Gone are the days when you ended up registering your business website only on dot com or dot biz or dot info. The trend to use definitive and meaningful new domain extensions has been in the works for quite a while now.
However, 2021 will be the year of relevant new domain extensions making their way to the top. So, expect to see quite a few short, crisp, and meaningful domain names and website addresses spring up.
For instance, if you’re starting an eCommerce brand or an online store, you don’t need to compromise your brand name choices and settle for something less worthy on a traditional domain.
You can instead look for a short and memorable name on a relevant new domain such as .STORE. With new domain extensions and shorter web addresses being the next big branding move, it would be wise to look for smart alternatives to long and awkward names of the past.
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eCommerce Trend 2: Omni-Channel Selling
Most big eCommerce brands are modifying their overall business strategy on the basis of their target audience’s purchasing habits. And there’s been a major shift in the eCommerce space when it comes to purchasing online; people aren’t purchasing from a single platform. Most brands are targeting Gen Z that happens to purchase from a host of platforms and channels.
To capture their loyalty and grow, you should consider opting for an omnichannel model. According to The 2018 Omnichannel Buying Report, 87% of consumers in the US shop offline. 78% of the survey respondents reported making a purchase on Amazon, 45% in an online store, 65% in a brick-and-mortar store, 34% on eBay, and 11% on Facebook.
These statistics show just how profitable and effective it would be to make your business accessible and available across all channels and platforms. Consider selling on popular channels such as Amazon, eBay, Google Shopping, Facebook, and Instagram.
eCommerce Trend #3: Dropshipping
eCommerce trends suggest that the business concept of dropshipping will pick up pace this year. For eCommerce businesses that don’t have too much capital to begin with, dropshipping makes for a fairly profitable and sustainable business model. Dropshipping typically involves being the middleman or intermediary between the manufacturer and the customer.
The product is shipped directly to the customer without you having to handle the product or manage the logistics. You simply collect the retail price of the product and forward the wholesale amount to the manufacturer and keep the profit made therein for yourself. The manufacturer will deliver the product directly to the customer and that concludes the transaction.
This business model is easy to implement and has quite a few benefits:
- Only when a customer places an order will you buy the product from the manufacturer
- Since you are not responsible for logistics, you don’t have to invest in holding the inventory or on storage and distribution
- There are hardly any overhead costs associated with this business model
The benefits mentioned above, and the ease of implementation make this a lucrative business model to look forward to in 2021.
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eCommerce Trend 4: Personalization Across Channels
Omnichannel selling will surely make a significant impact on the growth of your eCommerce business. However, selling on multiple platforms and channels won’t cut the mustard. You need to personalize the selling experience for your shoppers.
You need to offer an unmatched brand experience to get an edge over your competitors. To do this, you need to personalize your interactions with every individual customer and understand that no two customers are the same; especially on different platforms.
Ideally, you should personalize according to your target audience and platform so as to offer relevant experiences without coming across as annoying. A great way to succeed at personalization is to aim for AI-driven targeting.
eCommerce Trend 5: Custom Packaging
A major trend that will pick up the pace in 2021 is that of custom packaging. In fact, packaging plays a significant role in the brand building too. A major chunk of online shoppers says that creative and custom packaging gets them excited about the product and that they perceived the brand as a luxury or upscale brand. Several third-party packaging services can help you augment your packaging game and lure customers into buying from you.
With every passing year, the eCommerce industry is transforming itself to become a highly lucrative space. With tech such as AI and IoT kicking in, it is all geared up to offer amazing new experiences for consumers.
Keeping up with the eCommerce trends mentioned above will help you win big in 2021.